CITIBANK STILL FUNDS RACISM in South Africa
by Chicago Coalition on Southern Africa
Chicago, Illinois, United States
Undated, late 1977 or 1978?
Leaflet against Citibank issued as part of a campaign against bank loans to South Africa. The leaflet says Citibank is the only U.S. bank with a subsidiary in South Africa and the largest U.S. lender to South Africa. It is participating in a $110 million loan to the white minority government, organizes loan packages for South Africa among other U.S. banks, lends to government-owned corporations (such as for iron and steel and electric power), and raises funds for the South African government by selling South African Krugerrand gold coins. Citibank finances U.S. corporate investments in South Africa, including by Motorola, Kodak, IBM, GM, Ford, and Chrysler. By South African law, Citibank must maintain 15% of its public assets in South African government bonds. • What Your Money Does for Racism
Used by permission of former members of Chicago Coalition on Southern Africa.
Collection: Carole Collins Papers, Michigan State University Libraries Special Collections